A Look At The New Apple Credit Card

The Apple Card is now available to anyone that wants to apply though the iOS Wallet app. The card has some innovative technology behind it, such as account access, information and support through the Wallet app, a deep connection to Apple Pay and a physical card that doesn't have a number or room for a signature. The Apple Card offers next-day cash back through Apple Pay Cash with the best deal being to use it in Apple Stores.

Comments: 25 Responses to “A Look At The New Apple Credit Card”

    Phillipa Rispin
    1 month ago

    Is the card usable in Canada? Is it necessarily related to Goldman Sachs?

    1 month ago

    Phillipa: It is a Mastercard. So it would work worldwide just like any other Mastercard. Only available to US customers right now. I don’t know when it will be available to residents of Canada.

    Lynn K
    1 month ago

    How does one pay the Apple Card bill? I pay my other credit cards through my bank’s online banking, but I believe Apple does not allow this. Am I wrong?

    1 month ago

    Lynn: You pay in the Wallet app. You add a bank account there and then transfer the money.

    Adam Snyder
    1 month ago

    Thanks for the video on this topic Gary. I received my Apple Card within a day or two of when you did as I signed up for the early invite as well. I am impressed with Apple’s take on this. The the few things I’ve found disappointing are:
    1. Not nearly enough businesses in my area are using Apple Pay yet.
    2. Not nearly enough businesses on the web use Apple Pay yet.
    3. I can’t add my wife to my account yet. Which is a bummer as we share all financial accounts.

    Attaboy for Apple on this.

    Lubomir
    1 month ago

    And the bad news are this card can not be attached for crypto transactions,right?

    Randall Huleva
    1 month ago

    Actually so far I really love the AppleCard. I have watched several of these YouTube videos bashing this card as a “horror story”, etc., etc. However these so far have all been simply Apple haters in my opinion that have little good to say about any Apple product. Most have simply compared the Apple cash back to their favorite credit card rewards…hardly a “horror story”!

    Karl
    1 month ago

    Gary, does the card have a magnetic strip and a CCV number on the back? Thanks

    Randall Huleva
    1 month ago

    One thing I am suggesting to Apple to make this card even more useful to me is to add a manual category addition so I can change the spending category if the auto category choice is inappropriate.

    Seeing my spending accurately categorized will be a great asset in transferring my expenses into my budgeting software.

    Randall Huleva
    1 month ago

    @Karl Sorry to jump in here but I thought I more quickly answer you. Yes, there is a magnetic strip on the physical card, however the CCV is not printed on the card.

    In Apple Wallet go to the card information tab for your card and you will find it there along with your card number and expiration date.

    Gary
    1 month ago

    Is there a way to reduce interest rate charged on balances ?

    Randall Huleva
    1 month ago

    Gary, one thing I noticed in the MasterCard section of the AppleCard literature is that even though Apple itself does not have warranty, travel benefits, etc., MasterCard does offer those things. So it may be possible to enroll for some of those features through MC until such a time as Apple perhaps offers them itself.

    1 month ago

    Gary: It is probably too early to know that. The first users haven’t even had it long enough to carry a balance past the pay date. I’d imagine that as time goes on this is one of those things you can use the messaging support in the app for. After all, for other cards you usually need to call or message them to get a rate change too.

    Randall Huleva
    1 month ago

    @Adam Snyder I am finding that most banks will no longer issue JOINT credit card accounts for couples. Generally you can still add a spouse as an authorized user on the account, however because of the AppleCard’s tight integration with iOS and your Apple ID, I am not sure how they are going to handle this.

    They do have some family sharing options for apps, Apple Music and so on, so maybe they will offer it. Check with the customer service people for a definite answer.

    1 month ago

    Karl: As Randall points out, yes, there is a strip (I show it in the video) and the CCV number is in the app.

    1 month ago

    Randall: I agree with you about those “horror story” videos. I’ve watched some of them and the content sometimes doesn’t even match the click-bait headline. For instance, they conclude the Apple Card is fine for some people. Hardly a “horror story,” right?

    1 month ago

    Lubomir: As I understand it, many (or most?) cards don’t let you purchased “cash equivalents” on credit. I can see where this would be a problem.

    Randall Huleva
    1 month ago

    @Adam Snyder I was just making a suggestion to Goldman Sachs regarding another issue with the card, however they did confirm that the Apple Card DOES NOT support authorized users.

    Unfortunately each spouse would have to apply and be accepted for their own account.

    william braun
    1 month ago

    Gary – is there a way to download transactions to a financial software like Bankitivity? If so how do you do that?

    1 month ago

    William: Not currently. People are complaining about that. But the card just launched, so maybe they’ll add it at some point soon. The first people to use the card won’t even see a payment due email until the end of September.

    Karen Brown
    1 month ago

    I use Quicken and download transactions almost daily. Do you know whether the Apple Card will work with Quicken?

    1 month ago

    Karen: Not currently, no. But hopefully Apple will add that in the future. We haven’t even gotten to the first set of payments (September 30) for everyone, so we’ll have to wait and see.

    Wade Nofziger
    1 month ago

    Gary. What about security of card use? If the card is stolen from me, can anyone else use it without checks and balances?

    1 month ago

    Wade: If you notice the card stolen, you can lock it in the app. If the number is compromised, you can change it in the app. If someone steals it and tries to use it, it is the same as any other card. You’d need to contact support to report it and have the charges reversed, etc.

    Douglas Brace
    4 weeks ago

    The link below is a tweeted reply to an Apple Insider tweet. It is a picture shared by someone that has had an Apple Card for about 2 months. The Apple Card will need to be protected in some sort of sleeve or it will not look good.

    https://twitter.com/zed1291/status/1164312910245564416

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